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CIRCULAR No. CIR/MIRSD/66/2016 Dated: July 21, 2016

1. All Recognized Stock Exchanges
2. Stock Brokers through Recognized Stock Exchanges
3. All recognised Depositories
4. Depository Participants through Depositories
5. Association of Mutual Funds in India
6. Mutual funds through AMFI
7. Portfolio Managers
8. KYC Registration Agencies (KRAs)
9. Alternative Investment Funds (AIFs)
10. Collective Investment Schemes (CIS)
11. Custodians
12. Investment Advisors

Dear Sir/Madam,

Sub: Operationalisation of Central KYC Records Registry (CKYCR)

1. Please refer to SEBI circulars no. CIR/MIRSD/16/2011 dated August 22, 2011, MIRSD/SE/Cir-21/2011 dated October 5, 2011 and CIR/MIRSD/13/2013 dated December 26, 2103 on uniform Know Your Client (‘KYC’) norms, prescribing a standard account opening form (AOF). AOF has been divided in 2 parts – Part I contains the basic KYC details of the investor used by all SEBI registered intermediaries.

2. Government of India has authorized the Central Registry of Securitization and Asset Reconstruction and Security interest of India (CERSAI), set up under sub­section (1) of Section 20 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, to act as, and to perform the functions of, the Central KYC Records Registry under the PML Rules 2005, including receiving, storing, safeguarding and retrieving the KYC records in digital form of a “client”, as defined in clause (ha) sub-section (1) of Section 2 of the Prevention of Money Laundering Act, 2002 (Copy of the Gazette notification No. S.O. 3183(E) dated November 26, 2015 is attached as Annexure 1).

3. As per the 2015 amendment to PML (Maintenance of Records) Rules, 2005 (the rules), every reporting entity shall capture the KYC information for sharing with the Central KYC Records Registry in the manner mentioned in the Rules, as per the KYC template for ‘individuals’ finalised by CERSAI.

4. Accordingly, the KYC template finalised by CERSAI shall be used by the registered intermediaries as Part I of AOF for individuals. The KYC template for “individuals” and the “Central KYC Registry Operating Guidelines 2016” for uploading KYC records on CKYCR finalised by CERSAI are enclosed herewith as Annexure 2 and Annexure 3 for your reference and necessary action. In this regard, it is clarified that the requirement for Permanent Account Number (PAN) would continue to be mandatory for completing the KYC process.

5. The ‘live run’ of the CKYCR has started with effect from July 15, 2016 in a phased manner beginning with new ‘individual accounts’. Further, ‘Test Environment’ has also been made available by CERSAI for the use of the reporting entities.

6. In the first phase, the registered intermediaries shall upload the KYC data with CKYCR, in respect of all individual accounts opened on or after August 1, 2016, wherever KYC is required to be carried out as per the circulars issued by SEBI from time to time and accordingly, shall take steps to prepare their systems for uploading the KYC data.

7. For addressing any difficulty in uploading KYC records to CKYCR, CERSAI has operationalised a help desk. Contact details of the CKYCR Helpdesk:

Phone: 022-61102592 (10 lines) Email: helpdesk@ckycindia.in

The helpdesk support will be available Monday to Saturday from 8.00 am to 8.00 pm.

8. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of and to regulate the securities market.

Yours faithfully,

D Rajesh Kumar
Deputy General Manager
Email: rajeshkd@sebi.gov.in

Encl:

Annexure 1 Gazette Notification No. S.O. 3183(E) dated November 26, 2015

Annexure 2 – KYC template for “individuals” finalised by CERSAI

http://www.sebi.gov.in/cms/sebi_data/commondocs/21072016_Annex2_p.pdf

Annexure 3 – Central KYC Registry Operating Guidelines 2016

 

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